TDn2K has announced the launch of the 2015 People Report Corporate Compensation and Benefits Survey (CCBS). This 12th edition of research will answer key questions for leaders in the restaurant industry regarding compensation practices. This research will reveal valuable information about competitive compensation and how restaurant companies are crafting attractive benefit packages in order to improve recruiting and retention. The CCBS is available for participation now. The survey is open to all chain restaurant companies and there is no fee to participate.
“We have been operating under a rapidly tightening labor market over the last year. More often, employees are voluntarily leaving their current jobs in search of better opportunities. Competitive compensation, benefits and other rewards are some of the most important differentiators employers have when it comes to recruiting and retention. This means that getting their reward strategy right is more important today than it has been since the recession” said Victor Fernandez, Executive Director of Insights at TDn2K.
“Knowing what’s being offered is the first step to creating a competitive reward package. This survey is extremely helpful in discovering what is going on and can prioritize our initiatives based on objective data. I’m a big fan and would encourage all my peers to participate in this survey regularly,” said Liz Mayo, Director of Compensation/Data Works at Brinker International.
The 2014 TDn2K Corporate Compensation and Benefits Analysis provided some of the most compelling industry insights for restaurant brands across all segments including:
- On average, 81% of corporate office employees and 69% of restaurant managers received a base pay increase during the year (a significant drop compared to the previous year). Average merit increase granted to corporate office employees in 2013 was 2.7%.
- Fast Casual/Family Dining is outperforming the rest of the industry segments regarding their health-related offerings for their restaurant general managers.
- Corporate office turnover increased 1.5%, after two years at a constant rate.
- Performance is evaluated and rewarded more often at the restaurant level than at the corporate office.
- Restaurant general managers earned an average bonus of 18.6% of their base salary.
- Wellness programs are not widespread among the restaurant industry. Only 39% of companies said they offer them.
- In what seems to be a direct response to the Affordable Care Act, the percentage of companies that offer limited health benefits plans to their part time hourly employees reduced considerably over the last few years.
Data is being collected now through May 22nd. Results will be shared in aggregate form only; no individual company’s results will be shared publicly. In order to learn more about participating, please visit www.tdn2k.com or contact Sarah Atkinson (email@example.com)